Changes in labor productivity, changes in the quality of labor, and changes in the price of labor are three factors that explain why labor costs eventually
a. increase at a decreasing rate
b. increase at an increasing rate
c. decrease at an increasing rate
d. decrease at a decreasing rate
e. become constant
B
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What is the relationship between net exports, the government sector surplus or deficit, and the private sector surplus or deficit?
What will be an ideal response?
Because transactions deposits can be withdrawn at any time, banks are exposed to
A) credit risk. B) liquidity risk. C) trading risk. D) interest risk.
The amount of income tax owed by a family is
a. not simply proportional to its total income. b. unaffected by deductions. c. total income minus tax credits. d. a constant fraction of income.
For a price-taking firm, marginal revenue
A. is the addition to total revenue from producing one more unit of output. B. decreases as the firm produces more output. C. is equal to price at any level of output. D. both a and b E. both a and c